Day after fugitive liquor baron Vijay Mallya said he had requested the Karnataka High Court on June 22 to allow his firms to sell assets worth Rs 13,900 crore “under judicial supervision” to repay his bank loans, the promoter of now-defunct KFA denied his offer had anything to do with the recent Fugitive Economic Offender Ordinance promulgated by the Government of India.

In a series of tweets on Wednesday, he also refuted the remark made by Minister of State for External Affairs M J Akbar that Mallya had many years to repay his loans to banks “if he wanted to”.

Breaking his “two years of silence” over the Rs 9,000-crore Kingfisher Airlines loan default case, Mallya said Tuesday he was being made a “poster boy” of all bank defaults and a “lightning rod of public anger”, and also denied that he was a wilful defaulter saying he made all efforts to repay the loans.

Responding to a question about Mallya’s claims that he had tried to settle the dues, Akbar said Tuesday: “If Mallya wanted to pay to the banks, I think he had… many, many years in which he could have done so.”

In response to Akbar’s remarks, Mallya tweeted on Wednesday: “My old friend MJ Akbar (now Hon’ble MOS) states that I had years to repay. My settlement initiatives date back to 2016. Most importantly the value of assets today in 2018 is far higher than in 2016.”

My old friend MJ Akbar (now Hon’ble MOS) states that I had years to repay. My settlement initiatives date back to 2016. Most importantly the value of assets today in 2018 is far higher than in 2016.

In a series of tweets, Mallya reiterated that he started settlement initiatives in 2016, and even questioned the banks’ intentions to get back its money.

Mallya said: “CBI and ED charge sheets specifically allege criminality with no intention to repay Banks. Since 2016 I have been making efforts to settle. Now I have placed everything before the Hon’Ble Karnataka HC so where is the malafide ? Are Banks interested in repayment ?”

CBI and ED charge sheets specifically allege criminality with no intention to repay Banks. Since 2016 I have been making efforts to settle. Now I have placed everything before the Hon’Ble Karnataka HC so where is the malafide ? Are Banks interested in repayment ?

Mallya’s Kingfisher Airlines owed over Rs 9,000 crore to private sector banks including the State Bank of India. Stating that the authorities were “rightfully concerned” about the public money, the liquor tycoon tweeted that in his application to the Karnataka High Court he had placed on record saleable assets in excess of what he owed to the PSU banks.

“Government, Courts and Banks are rightfully concerned about Public money loaned by Public Sector Banks. I have made an application to the Hon’Ble Karnataka HC showing assets far in excess of the Banks claims and requesting sale under judicial supervision. What more ?”

Government, Courts and Banks are rightfully concerned about Public money loaned by Public Sector Banks. I have made an application to the Hon’Ble Karnataka HC showing assets far in excess of the Banks claims and requesting sale under judicial supervision. What more ?

Mallya said banks should be happy to get back their money from the sale of his assets he could do nothing if the “CBI and ED object”.

“Government wants to recover money loaned by PSU Banks. They used CBI and ED to attach and recover. I, myself have placed all assets before the Hon’Ble Karnataka HC and submitted for sale. Banks should be very happy. But if the same CBI and ED object what do I do ?” Mallya tweeted.

Government wants to recover money loaned by PSU Banks. They used CBI and ED to attach and recover. I, myself have placed all assets before the Hon’Ble Karnataka HC and submitted for sale. Banks should be very happy. But if the same CBI and ED object what do I do ?

The 63-year-old also denied that his offer to sell assets had anything to do with the government’s recent Fugitive Economic Offenders Ordinance under which it wanted to try Vijay Mallya and other loan defaulters such as Nirav Modi and Mehul Choksi.

“It is incorrect that my settlement offer before the Hon’Ble Karnataka HC was motivated by the latest charge sheet under the media reported Fugitive Ordinance. I always had honest intentions to settle and there is ample proof. Anyway I hope the sale of assets is approved for Banks,” Mallya tweeted.

It is incorrect that my settlement offer before the Hon’Ble Karnataka HC was motivated by the latest charge sheet under the media reported Fugitive Ordinance. I always had honest intentions to settle and there is ample proof. Anyway I hope the sale of assets is approved for Banks

He said he was “unable to make such an offer before due to various circumstantial changes about the value of my assets available”, reiterating that he had “honestly pursued settlement efforts since 2016”.

I made my media statement concurrent with my settlement offer now and was unable to make such an offer before due to various circumstantial changes about the value of my assets available. However I have honestly pursued settlement efforts since 2016.

It may be recalled that the Enforcement Directorate on 22 June moved a special Prevention of Money Laundering Act (PMLA) court in Mumbai seeking to declare Mallya a fugitive economic offender. The fugitive economic offender tag would have given the ED powers to confiscate Mallya’s assets worth about Rs 12,500 crore, including those in foreign countries.